Results From the Annual and General Shareholders Meeting and Stock Options
06 Décembre 2023 - 10:30PM
Abcourt Mines Inc. (“
Abcourt” or
the “
Corporation”) (TSX VENTURE: ABI) is pleased
to announce the results of its Annual and General Meeting of
Shareholders held on December 6, 2023 (the
“
Meeting”). The shareholders elected each of the
nominees presented in the management circular relating to the
Meeting, namely: Pascal Hamelin, Daniel Adam, René Branchaud, Loic
Bureau, Jasmine Hinse, Lise Kistabish and François Mestrallet.
Lise Kistabish is a new director of the
Corporation. Mrs. Kistabish graduated from the National School of
Public Administration (ENAP) in public management in a First Nation
context. She has over 25 years of experience in management and has
been Director of training, employment and social development for
the Abitibiwinni First Nation Council since May 2019.
The Board of Directors would like to thank the
only outgoing director, Nicole Veilleux, Chair of the Audit
committee and Director of the Corporation since December 2018, for
her valuable contribution to the Corporation and the Board of
Directors.
Shareholders also approved the appointment of
Raymond Chabot Grant Thornton, Professional Chartered Accountants,
as auditors of the Corporation for the financial year ending June
30, 2024.
At the Board meeting that followed the Meeting,
the Board has appointed Pascal Hamelin as President and Chief
Executive Officer, Christine Lefebvre as Chief Financial Officer,
Loic Bureau as Chairman and Julie Godard, as Corporate Secretary.
Also, the following directors were appointed as members of the
Board committees: Daniel Adam, Lise Kistabish and Francois
Mestrallet on the Audit Committee; René Branchaud, Loic Bureau and
François Mestrallet on the Compensation Committee; René Branchaud,
Jasmine Hinse and Lise Kistabish on the Governance Committee; and
Pascal Hamelin, Daniel Adam and Loïc Bureau on the Technical
Committee (health, safety and environment).
The Board of Directors also granted stock
options to its new director, on the same terms as those granted
last summer to its directors. These stock options allow to
subscribe 1,500,000 common shares of Abcourt at an exercise price
of $0.05 per share, expiring in 5 years.
The Board of Directors also approved some
amendments to its common share stock option Plan (the
“Stock Option Plan”) to bring it into line with
the most recent changes to the TSX Venture Exchange (the
“Exchange”) Policy on Security Based
Compensation.
The maximum number of common shares that may be
issued under the Stock Option Plan as modified on August 23, 2023
is 42,810,000 (previously 14,500,000). The main amendments
subsequently adopted by the Board of Directors as requested by the
Exchange include, among other things, that the maximum number of
common shares which may be reserved for issuance to any one person
pursuant to stock options during a twelve-month period may not
exceed 5% of the common shares outstanding at the time of grant (on
a non-diluted basis). The maximum aggregate number of common shares
that are issuable pursuant to all security based compensation
granted or issued to insiders (as a group) must not exceed 10% of
the common shares of the Corporation at any point in time (unless
the Corporation has obtained the requisite disinterested
shareholder approval pursuant to the Exchange requirements). The
maximum aggregate number of common shares that are issuable
pursuant to all security based compensation granted or issued in
any 12 month period to insiders (as a group) must not exceed 10% of
the issued common shares of the Corporation, calculated as at the
date any security based compensation is granted or issued to any
insider (unless the Corporation has obtained the requisite
disinterested shareholder approval pursuant to the Exchange
requirements).
The amended Stock Option Plan also provides that
the approval of the Corporation’s disinterested shareholders will
be required for any reduction in the exercise price of a stock
option or for the extension of the term of a stock option, if the
participant is an insider of the Corporation at the time of the
proposed amendment.
All modifications to the Stock Option Plan are
subject to the approval of the Exchange.
About Abcourt Mines Inc.
Abcourt Mines Inc. is a gold producer and a
Canadian exploration corporation with strategically located
properties in northwestern Québec, Canada. Abcourt owns the
Sleeping Giant mill and mine where it concentrates its
activities.
For further information, please visit our
website at www.abcourt.ca, and consult our filings under Abcourt's
profile on www.sedarplus.ca, or contact:
Pascal Hamelin President and CEO
T: (819) 768-2857 E: phamelin@abcourt.com |
Dany Cenac Robert, Investor Relations
Reseau ProMarket Inc., T: (514) 722-2276, post 456
E: dany.cenac-robert@reseaupromarket.com |
The TSX Venture Exchange and its regulatory
service provider (as defined in the policies of the TSX Venture
Exchange) assume no responsibility for the adequacy or accuracy of
this press release.
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